----

----

|  Nevada(State or other jurisdiction of incorporation or organization) |  86-0931332(I.R.S. Employer Identification No.) |
|----------------------------------------------------------------------------|------------------------------------------------------|

----

| Consolidated Balance Sheets                | F-2 |
|--------------------------------------------|-----|
| Consolidated Statements of Operations      | F-3 |
| Consolidated Statements of Cash Flows      | F-4 |
| Notes to Consolidated Financial Statements | F-5 |

----

| ITEM 1. FINANCIAL STATEMENTS                                                      |   |          |       |   |         |   |
|-----------------------------------------------------------------------------------|--------|---------------|------------|--------|--------------|--------|
|                                                                              |   |          |       |   |         |   |
|                                                                              |   |          |       |   |         |   |
| LONE PINE HOLDINGS, INC.                                                          |   |          |       |   |         |   |
|                                                                              |   |          |       |   |         |   |
| (FORMERLY AUSTRALIAN FOREST INDUSTRIES, INC.)                                     |   |          |       |   |         |   |
|                                                                              |   |          |       |   |         |   |
| BALANCE SHEETS                                                                    |   |          |       |   |         |   |
|                                                                              |   |          |       |   |         |   |
|                                                                              |   | September 30, |       |   | December 31, |   |
|                                                                              |   | 2009          |       |   | 2008         |   |
|                                                                              |   | (Unaudited)   |       |   |         |   |
|                                                                              |   |          |       |   |         |   |
| ASSETS                                                                            |   |          |       |   |         |   |
|                                                                              |   |          |       |   |         |   |
| TOTAL ASSETS                                                                      |   | $             | -          |   |         | $      | - |   |
|                                                                              |   |          |       |   |         |   |   |   |
|                                                                              |   |          |       |   |         |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                             |   |          |       |   |         |   |   |   |
|                                                                              |   |          |       |   |         |   |   |   |
| CURRENT LIABILITIES                                                               |   |          |       |   |         |   |   |   |
| Due to principal stockholder                                                      |   | $             | 7,475      |   |         | $      | - |   |
| Accrued expenses                                                                  |   |          | 27,000     |   |         |   | 87,534 |   |
| Total current liabilities                                                         |   |          | 34,475     |   |         |   | 87,534 |   |
|                                                                              |   |          |       |   |         |   |   |   |
| STOCKHOLDERS' DEFICIT                                                             |   |          |       |   |         |   |   |   |
| Preferred stock, par value $0.001, 5,000,000 shares                               |   |          |       |   |         |   |   |   |
|     authorized, none issued and outstanding                   |   |          | -          |   |         |   | - |   |
| Common stock, par value $0.001, 145,000,000 shares                                |   |          |       |   |         |   |   |   |
|     authorized, 2,577,350  issued and outstanding   |   |          |       |   |         |   |   |   |
|     at September 30, 2009 and December 31, 2008, respectively |   |          | 2,576      |   |         |   | 2,576 |   |
|      Additional paid-in capital                          |   |          | 4,915,775  |   |         |   | 4,828,241 |   |
|      Accumulated deficit                                 |   |          | (4,952,826 | )      |         |   | (4,918,351 | ) |
| Total Stockholders' Deficit                                                       |   |          | (34,475    | )      |         |   | (87,534 | ) |
|                                                                              |   |          |       |   |         |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                                       |   | $             | -          |   |         | $      | - |   |

|                                            |   |   |   |   |   |   |
|-------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
|                                            |   |   |   |   |   |   |
| See accompanying notes to financial statements. |

----

| LONE PINE HOLDINGS, INC.                                             |   |                       |      |          |                           |   |      |   |   |   |      |   |
|----------------------------------------------------------------------|--------|----------------------------|-----------|---------------|--------------------------------|--------|-----------|--------|--------|--------|-----------|--------|
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |
|  (FORMERLY AUSTRALIAN FOREST INDUSTRIES, INC.)                  |   |                       |      |          |                           |   |      |   |   |   |      |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |
| STATEMENTS OF OPERATIONS (UNAUDITED)                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |
|                                                                 |   | For the Three Months Ended |      |          | For the Nine Months Ended |   |
|                                                                 |   | September 30,              |      | September 30, |                           |
|                                                                 |   | 2009                       |      |          | 2008                           |   |      | 2009   |   |   | 2008      |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |
| CONTINUING OPERATIONS:                                               |   |                       |      |          |                           |   |      |   |   |   |      |   |
| Administrative expenses                                              |   | $                          | 4,750     |          |                           | $      | -         |   |   | $      | 34,475    |   |   | $ | - |   |
| Loss from continuing operations                                      |   |                       | (4,750    | )             |                           |   | -         |   |   |   | (34,475   | )      |   |   | - |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
| DISCONTINUED OPERATIONS:                                             |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
| Loss on operations of discontinued operations                        |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|     (Net of income tax expense of  $0) |   |                       | -         |          |                           |   | (111,479  | )      |   |   | -         |   |   |   | (566,616 | ) |
| Gain on disposal of discontinued assets                              |   |                       |      |          |                           |   |      |   |   |   | -         |   |   |   |   |   |
|     (Net of income tax expense of  $0) |   |                       | -         |          |                           |   | -         |   |   |   | -         |   |   |   | 7,283,713 |   |
| Total Discontinued Operations                                        |   |                       | -         |          |                           |   | (111,479  | )      |   |   | -         |   |   |   | 6,717,097 |   |
| NET INCOME (LOSS)                                                    |   | $                          | (4,750    | )             |                           | $      | (111,479  | )      |   | $      | (34,475   | )      |   | $ | 6,717,097 |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
| NET INCOME (LOSS) PER SHARE                                          |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
| (BASIC AND DILUTED)                                                  |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
| Continuing operations                                                |   | $                          | (0.01     | )             |                           | $      | -         |   |   | $      | (0.01     | )      |   | $ | - |   |
| Discontinued operations                                              |   |                       | -         |          |                           |   | (0.04     | )      |   |   | -         |   |   |   | 2.61 |   |
| Net income (loss) per share                                          |   | $                          | (0.01     | )             |                           | $      | (0.04     | )      |   | $      | (0.01     | )      |   | $ | 2.61 |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
| WEIGHTED AVERAGE COMMON                                              |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
| SHARES OUTSTANDING                                                   |   |                       | 2,577,350 |          |                           |   | 2,577,350 |   |   |   | 2,577,350 |   |   |   | 2,577,350 |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
|                                                                 |   |                       |      |          |                           |   |      |   |   |   |      |   |   |   |   |   |
| See accompanying notes to financial statements.                      |

----

| LONE PINE HOLDINGS, INC.                                                          |   |                      |                           |   |   |   |
|-----------------------------------------------------------------------------------|--------|---------------------------|--------------------------------|--------|--------|--------|
|                                                                              |   |                      |                           |   |   |   |
| (FORMERLY AUSTRALIAN FOREST INDUSTRIES, INC.)                                     |   |                      |                           |   |   |   |
|                                                                              |   |                      |                           |   |   |   |
| STATEMENTS OF CASH FLOWS (UNAUDITED)                                              |   |                      |                           |   |   |   |
|                                                                              |   |                      |                           |   |   |   |
|                                                                              |   |                      |                           |   |   |   |
|                                                                              |   |                      |                           |   |   |   |
|                                                                              |   |                      |                           |   |   |   |
|                                                                              |   | For the Nine Months Ended |                           |
|                                                                              |   | September 30,             |                           |
|                                                                              |   | 2009                      |                           |   | 2008   |   |
|                                                                              |   |                      |                           |   |   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                              |   |                      |                           |   |   |   |
| Net income (loss)                                                                 |   | $                         | (34,475                        | )      |   | $      | 6,717,097 |   |
| Income from discontinued operations                                               |   |                      | -                              |   |   |   | (6,717,097 | ) |
| Loss from continuing operations                                                   |   |                      | (34,475                        | )      |   |   | - |   |
| Adjustments to reconcile net income (loss) to cash used in operating activities-  |   |                      |                           |   |   |
| Increase in accrued expenses                                                      |   |                      | 27,000                         |   |   |   | - |   |
| Net cash used in operating activities- continuing operations                      |   |                      | (7,475                         | )      |   |   | - |   |
| Net cash used in operating activities- discontinued operations                    |   |                      | -                              |   |   |   | (7,985,893 | ) |
| Net cash used in operating activities                                             |   |                      | (7,475                         | )      |   |   | (7,985,893 | ) |
|                                                                              |   |                      |                           |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                              |   |                      |                           |   |   |   |   |   |
| Net cash provided by investing activities- continuing operations                  |   |                      | -                              |   |   |   | - |   |
| Net cash provided by investing activities- discontinued operations                |   |                      | -                              |   |   |   | 7,985,893 |   |
| Net cash provided by investing activities                                         |   |                      | -                              |   |   |   | 7,985,893 |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                              |   |                      |                           |   |   |   |   |   |
| Net cash provided by financing activities- continuing operations                  |   |                      |                           |   |   |   |   |   |
| Loan from principal shareholder                                                   |   |                      | 7,475                          |   |   |   | - |   |
| Net cash provided by financing activities- discontinued operations                |   |                      | -                              |   |   |   | - |   |
| Net cash provided by financing activities                                         |   |                      | 7,475                          |   |   |   | - |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
| INCREASE IN CASH                                                                  |   |                      | -                              |   |   |   | - |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
| CASH BALANCE AT BEGINNING OF PERIOD                                               |   |                      | -                              |   |   |   | - |   |
| CASH BALANCE AT END OF PERIOD                                                     |   | $                         | -                              |   |   | $      | - |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
| SUPPEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                                  |   |                      |                           |   |   |   |   |   |
| Payment of Accrued expenses at December 31, 2008 by                               |   |                      |                           |   |   |   |   |   |
|     principal shareholder, considered a capital contribution. |   | $                         |     87,534 |   |   | $      | - |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
|                                                                              |   |                      |                           |   |   |   |   |   |
|                                                                              |
| See accompanying notes to financial statements.                                   |

----

|   | The accompanying condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information.  Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.   In the opinion of management, all adjustments (consisting of normalrecurring accruals) considered necessary in order to make the financial statements not misleading have been included.  Results for the three and nine months ended September 30, 2009 are not necessarily indicative of the results that may be expected for the year ending December 31, 2009.  For further information, refer to the financial statements and footnotes thereto included in the Lone Pine Holdings, Inc. annual report on Form 10-K for the year ended December 31, 2008 |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Going Concern |
|--------|---------------|

| NOTE B – REVERSE STOCK SPLIT/ CHANGE OF NAME |
|----------------------------------------------------|

----

| NOTE C –CHANGE OF CONTROL |
|---------------------------------|

----

----

----

----

| (a) Disclosure Controls and Procedures. |
|----------------------------------------------|

----

----

----

----